Wondering what to do with your loan in the event of a separation or divorce?
Separation between you and your spouse does not end your obligations. In the event of a separation or divorce, you and the co-borrower (your spouse) will both remain responsible for repaying your loan in full.
If one of you can no longer pay, the co-borrower will be responsible for the monthly payments.
Good to know:
If both spouses no longer wish to repay the debt jointly, you can ask to remove one of the co-borrowers. However, they must be able to prove that they will be able to repay the loan alone.